Power Quality Equipment Market Growth 2022 : Size, Analysis, Key Players, And Global Forecast Till 2031

The global power quality equipment market report by the business research company identifies an increase in the demand for power is significantly to be a major growth driver for the power quality equipment market. Demand for power refers to the maximum amount of electrical power that is being used at a given time. Globally, power demand is increasing due to a sudden surge in various industrial activities and advances in both developing and developed countries. For instance, according to the IEA report in July 2021, there was a 5% rise in electricity demand, which is 1% more than in the year 2020. Also, energy generation with renewables like hydropower, wind, and solar PV is on track to grow strongly around the world over the next two years - by 8% in 2021 and by more than 6% in 2022. Thus, due to an increase in demand for power year by year, there will be an increase in demand for power quality equipment.

The global power quality equipment market is expected to grow from $22.10 billion in 2021 to $23.53 billion in 2022 at a compound annual growth rate (CAGR) of 6.48%. The global power quality equipment market is expected to reach $31.81 billion in 2026 at a CAGR of 7.83%.

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Asia-Pacific was the largest region in the power quality equipment market in 2021 and is also expected to be the fastest-growing region in the global power quality equipment market during the forecast period. The regions covered in the power quality equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Major players in the power quality equipment market are Eaton, ABB, Siemens, Schneider Electric, General Electric, Toshiba, Emerson, Legrand, Leviton Manufacturing, MTE, Honeywell, AMETEK Powervar, Piller Power Systems Acumentrics, and Socomec Group.

The global power quality equipment market is segmented -
1) By Equipment: Surge Arresters, Surge Protection Devices, Harmonic Filters, Power Conditioning Units, Power Distribution Unit, Uninterruptable Power Supply, Synchronous Condenser, Voltage Regulator, Digital Static Transfer Switch, Static VAR Compensator, Solid Oxide Fuel Cells, Isolation Transformers, Power Quality Meters, Others

2) By Phase: Single Phase, Three Phase

3) By Application: Industrial and Manufacturing, Commercial, Residential, Transportation, Utilities

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The Power Quality Equipment Market Report Contents Include
1. Executive Summary
2. Power Quality Equipment Market Characteristics
3. Power Quality Equipment Market Trends And Strategies
4. Impact Of COVID-19 On Power Quality Equipment
5. Power Quality Equipment Market Size And Growth
....
26. Africa Power Quality Equipment Market
27. Power Quality Equipment Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Power Quality Equipment Market
29. Power Quality Equipment Market Future Outlook and Potential Analysis
30. Appendix

This report covers the trends and market dynamics of the power quality equipment market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.

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